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A sum of $5000 is due in 3 years. If the rate of interest is 5% per annum, what

Practice Questions

Q1
A sum of $5000 is due in 3 years. If the rate of interest is 5% per annum, what is the true discount?
  1. $500
  2. $600
  3. $700
  4. $800

Questions & Step-by-Step Solutions

A sum of $5000 is due in 3 years. If the rate of interest is 5% per annum, what is the true discount?
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